:) Cant image how small the window is to play an outdoor sport on a court in LV.... 

Try buying a MF in E Clev, good luck there is no inventory for a reason :)  Again I am going by my 10 years of doing 100s and 100s of deals there, 1ks or reno/repairs, 1ks move in and outs working with all the govt agencies.

Rather than setup LLCs for each property and deal with the added expenses and book keeping,  we just file them on schedule E and I have a butt load of liability coverage.If I keep them,  I might want to restructure as part of the refinancing to reduce my exposure and maybe even set them up so the kids could take over without having to be actively involved. 

A single member LLC may elect to be treated as a disregarded entity on the member's federal income tax return and report income and deductions on Schedule E of the 1040 rather than filing a return separately for the company.

Then, on your taxes, make sure that Schedule E is filled out for the room/unit that you rented.

Hello, My husband and I have had a busy year diving into buying our first investment property and starting an e-commerce business.

Any well-run NOO STR close to the nightlife/universities/sporting events does well, along with medium-term rentals for travel nurses, people giving Nashville a "test run", etc.

Quote from @Scott E.: Just for fun I clicked on the sales page because I've never heard of this guru.

I hate that the legal system gives enables these buyer to get money but I do understand its a bottom line business and whatever is cheaper wins...this is a good point and why buyers and sellers should use licensed real estate brokers who have E and O..

First year and beyond is typical on a schedule E, same as a LTR unless your providing substantial services.